ISLAMABAD, Oct. 18 (Xinhua) -- The Pakistani government has allocated a sum of 100 billion rupees (about 650 million U.S. dollars) to uplift the young population of the country by providing them resources and opportunities under the flagship "Kamyab Naujawan" program, or successful youth in English, local media reported on Friday.
Under the program, the fund will be provided to young people in the form of loans to set up businesses along with a set of educational and skill-development opportunities which would help address the issue of youth unemployment in the country and reduce poverty.
"The program will be a milestone in making youth economically independent and highlighting their role in national construction," said Pakistani Prime Minister Imran khan while addressing an inaugural ceremony at Convention Center in Islamabad late Thursday.
The loans would be made available under three categories which include interest-free, concessionary and regular loans, said the prime minister, adding that 100 smart laboratories will be instituted to impart modern skills to youth. "We will help provide placements and apprenticeship to 25,000 people," he said.
In order to bring seminary students into the mainstream and help them play their role in national economy, the government will also set up over 500 skill laboratories for providing skill education under the program, according to the reports.
One million youth is expected to be directly benefited from the program. The loans will be distributed on a priority basis in 45 underprivileged districts of Pakistan, according to the program details.
Local analysts believe that the program will prove to be a milestone in resolving issues of the young people as well as bringing an economic reform in the country as youth would be self-employed and able to finance themselves, resulting in decrease of inflation and unemployment.
